New York state’s OneKey® MLS has announced that reported data for September 2024 reflects continued strength in the housing market with higher-value transactions.
According to an October 21 release, in September, the regional single-family closed median sale price was $715,000, marking an 8.3% year-over-year increase from $660,000 in September 2023. Condominiums saw a significant uptick, with a closed median sale price of $523,000, reflecting an increase of 10.3% from $474,000 the previous year. The closed median sale price for co-ops was $275,000, a 1.8% decrease from $280,000 in September 2023, according to the release.
For transaction volumes, OneKey stated that closed sales for single-family homes and condominiums were down from last year and co-ops were up slightly. There were 3,222 single-family closed transactions in September 2024, a 2% decrease from September 2023. Condominium closed sales were 537 and co-op sales were 547, a 4.1% year-over-year decline and 0.4% year-over-year increase, respectively.
“While we are encouraged by the recent downward trend in mortgage rates, the continued lack of inventory remains a significant challenge,” stated Richard Haggerty, CEO of OneKey® MLS. “The limited supply in today’s housing market is affecting transactional activity, making it difficult for both buyers and sellers to find the opportunities they’re seeking. Until we see more inventory come on the market, we can expect this slower pace of transactions to continue.”
OneKey MLS® New York markets cover from Montauk to Manhattan and through the Hudson Valley to the Catskill Mountains.
For more detailed regional and county-based statistics about residential, condo, and co-op sales transactions, visit marketstats.onekeymls.com.
